Analysts Set Imperial Oil Limited (NYSEAMERICAN:IMO) PT at $99.50

Shares of Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) have received an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $99.50.

A number of equities analysts have weighed in on the company. Scotiabank lowered their price target on Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. StockNews.com lowered Imperial Oil from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Wolfe Research assumed coverage on Imperial Oil in a report on Thursday, July 18th. They set an “outperform” rating and a $108.00 price target for the company. Finally, Raymond James raised shares of Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th.

Imperial Oil Stock Performance

Shares of IMO opened at $68.00 on Friday. The firm has a market cap of $36.27 billion, a P/E ratio of 10.66 and a beta of 1.47. Imperial Oil has a 12 month low of $52.97 and a 12 month high of $77.70. The company has a quick ratio of 1.16, a current ratio of 1.40 and a debt-to-equity ratio of 0.17.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its earnings results on Friday, August 2nd. The energy company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.11. The business had revenue of $9.78 billion for the quarter, compared to analyst estimates of $10.50 billion. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. Equities research analysts anticipate that Imperial Oil will post 6.29 earnings per share for the current year.

Imperial Oil Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.4336 per share. This represents a $1.73 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, September 4th. Imperial Oil’s payout ratio is presently 27.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IMO. CWM LLC increased its holdings in shares of Imperial Oil by 156.8% during the fourth quarter. CWM LLC now owns 2,011 shares of the energy company’s stock worth $115,000 after buying an additional 1,228 shares in the last quarter. Natixis Advisors L.P. raised its position in Imperial Oil by 3.3% in the fourth quarter. Natixis Advisors L.P. now owns 12,894 shares of the energy company’s stock valued at $737,000 after purchasing an additional 409 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Imperial Oil by 9.6% during the fourth quarter. Metis Global Partners LLC now owns 9,633 shares of the energy company’s stock valued at $549,000 after purchasing an additional 841 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Imperial Oil during the fourth quarter valued at about $368,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Imperial Oil by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 113,018 shares of the energy company’s stock valued at $6,463,000 after buying an additional 4,610 shares during the period. Institutional investors own 20.74% of the company’s stock.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.